Midnight Caller

As I'm always losing my paper notes and losing track of files on my PC, I've decided to keep track of my trades on here. Mainly for myself, so I can see how much demo money I'm losing but feedback would be cool if anyone feels like it.

Due to my day job I've decided to concentrate on the D1 TF. I'm currently reading through James16 thread and I have also learned a lot from Dredding's freebie thread and Al's Extreme TMA, though my trades are not completely based on either of these systems. I made some demo pips with both of these systems on the lower timeframes, but I'm not willing to quit my job just yet, so hopefully this journel will document my road to this.

I'll be looking at my charts and trades around 10pm-12am UK time.

If anyone wants to make some pips then just do the opposite of what I post

Vamos....

Here I longed the break of the Bullish engulfing bar. PA seems to have been rejected at the previous swing low of 1.266 and formed the bullish bar. There is some trouble ahead at 1.29 so I will (hopefully) take my profits there (just before the 38 retracement).

Big con is that it is against the trend.

Open Trades
EURUSD (+20)

Closed Trades May
0

First trade turned and hit my SL for -92. Someone had commented that Friday daily bars can be decieving due to liquidity dropping off early on the Friday as traders head out early to get bladdered no doubt.

Not happy with my SL on this. I have watched a few more J16 videos and he likes to keep them tighter. I will be looking to keep them tighter in future.

Closed Trades May
L -92

TOTAL = -92

I clawed some back last night with this EUR/GBP trade.

I got into trouble going against the trend for the first trade, so this looked like a nice opportunity to go with it. Solid bearish engulfing bar, but with a close trouble area - the big round number 0.8. Not a great set up, but looked like it had a good chance of getting to the TP placed just above 0.8.

Closed Trades May
L -92, W + 36

TOTAL = -56